Why Are Meme Coins Still A Thing, And Are They Worth The Gamble?

Why Are Meme Coins Still A Thing, And Are They Worth The Gamble?

Dogelon Mars cryptocurrency logo displayed on a phone screen and representation of Dogecoin are seen ... [+] in this illustration photo taken in Krakow, Poland on November 2, 2021. (Photo by Jakub Porzycki/NurPhoto via Getty Images) Face it, Dogecoin DOGE is basically an investment in Elon Musk Tweets. It's the only reason why us newcomers bought it in the last 12 months. It is the most famous of all meme coins, and is actually the 13th largest cryptocurrency by market cap, according to CoinMarketCap. Of the top meme coins, all of them have some sort of relation to the Shiba Inu SHIB dog that everyone recognizes as the Dogecoin dog. The Shibu Inu coin (SHIB) is the second largest meme coin — and probably as useless as a crypto investment as the mother of all meme coins — Doge. Still, laugh all you like. Doge is worth $17. 9 billion and trades over $341 million a day. Shiba is worth around $14 billion and has a daily trading volume of $324 million. To put that into perspective, that gives both of those coins a market cap of two nearly two times that of AMC Entertainment (AMC) and 36 times the